First Trust Advisors LP Sells 65,322 Shares of WEC Energy Group, Inc. (NYSE:WEC)

First Trust Advisors LP reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,054,764 shares of the utilities provider's stock after selling 65,322 shares during the period. First Trust Advisors LP owned about 0.33% of WEC Energy Group worth $99,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock worth $1,038,931,000 after purchasing an additional 6,329,574 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of WEC Energy Group during the 4th quarter worth about $188,879,000. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Donaldson Capital Management LLC acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $36,421,000. Finally, Federated Hermes Inc. increased its position in shares of WEC Energy Group by 24.4% during the 4th quarter. Federated Hermes Inc. now owns 1,972,553 shares of the utilities provider's stock worth $185,499,000 after purchasing an additional 387,178 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded down $1.22 during trading on Friday, reaching $107.69. The company's stock had a trading volume of 2,077,779 shares, compared to its average volume of 2,146,959. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The firm has a market cap of $34.36 billion, a PE ratio of 22.30, a P/E/G ratio of 2.60 and a beta of 0.44. The business's 50-day moving average price is $106.38 and its 200-day moving average price is $100.63. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group's dividend payout ratio is 73.91%.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares of the company's stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

WEC has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and a consensus target price of $104.38.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.